PROCESSING YOUR LOAN APPLICATION

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Processing Your Loan Application

There are several federal laws which provide you with protection during
the processing of your loan. The Equal Credit Opportunity Act ("ECOA"),
the Fair Housing Act, and the Fair Credit Reporting Act ("FCRA")
prohibit discrimination and provide you with the right to certain credit
information.

No Discrimination. ECOA prohibits lenders from discriminating against
credit applicants on the basis of race, color, religion, national origin,
sex, marital status, age, the fact that all or part of the applicant's
income comes from any public assistance program, or the fact that the
applicant has exercised any right under any federal consumer credit protection
law. To help government agencies monitor ECOA compliance, your lender
or mortgage broker must request certain information regarding your race,
sex, marital status and age when taking your loan application.

vThe Fair Housing Act also prohibits discrimination in residential real
estate transactions on the basis of race, color, religion, sex, handicap,
familial status or national origin. This prohibition applies to both the
sale of a home to you and the decision by a lender to give you a loan
to help pay for that home. Finally, your locality or state may also have
a law which prohibits discrimination.

Frequently, there are differences in the types and amounts of settlement
costs charged to the borrower -- for example, some borrowers are charged
greater fees for mortgages depending on their credit worthiness. These
differences may be justified or they may be unlawfully discriminatory.
It is important that you examine your settlement